The economic team of the Marcos administration is encouraging Japanese investors to expand their businesses in the Philippines.

Economic managers, led by Finance Secretary Ralph Recto, are holding their regular Philippine Economic Briefing (PEB) to provide insights on the latest economic developments, government spending priorities, infrastructure programs and recent reforms in the country.

The Philippine delegation is already in Japan and met with several Japanese firms ahead of the PEB.

These include Sojitz Corp. Mitsubishi Corp. Murata Manufacturing Co. Ltd. and Sumitomo Corp.

Recto said the Philippines aims to leverage the technological expertise of the Japanese companies to spur industry development and economic growth.

For one, Tokyo-based Sojitz Corp. is involved in a wide range of global businesses, including manufacturing, selling, importing and exporting various products.

In the Philippines, Sojitz operates commodities trading and several investment projects in agriculture, food, telecommunication, infrastructure, property development, automotive and mining.

On the other hand, Mitsubishi is a global integrated business enterprise involved in project development, production and manufacturing.

Locally, Mitsubishi handles the export and import of various products, consumer market activities, as well as infrastructure and renewable energy development.

Headquartered in Kyoto, Murata Manufacturing Co. Ltd. specializes in research and development, manufacturing and sales of ceramic-based electronics.

Its local unit in Batangas is the company's largest production site in Asia, primarily producing multilayer ceramic capacitors.

The Philippine economic team also met with Sumitomo Corp. which is engaged in multifaceted business activities including product and service sales, import and export and both domestic and international business investment.

Sumitomo's investments in the Philippines include the First Philippine Industrial Park in Batangas, which hosts approximately 150 manufacturing industries. Sumitomo is also backing major railway projects in the country.

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